GOP makes another counteroffer

House Republicans say they have sent President Barack Obama a fresh proposal that would “achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs.”

“As the speaker said today, we’re still waiting for the White House to identify what spending cuts the president is willing to make as part of the ‘balanced approach’ he promised the American people,” said Michael Steel, Speaker John Boehner’s spokesman. “The longer the White House slow-walks this process, the closer our economy gets to the fiscal cliff.”

Obama sent House Republicans a counteroffer to their original proposal Monday that called for $1.4 trillion in new revenue but little movement on entitlement cuts, sources said. Obama’s original revenue proposal was $1.6 trillion.

The new GOP offer doesn’t represent major movement — Republicans are still offering $800 billion in revenue, which is $600 billion from the White House’s position. But it’s not clear what else was new in the Boehner offer to the White House.